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7 months ago
BRIEF-Assurant acquires Green Tree Insurance Agency
January 4, 2017 / 11:40 AM / 7 months ago

BRIEF-Assurant acquires Green Tree Insurance Agency

1 Min Read

Jan 4 (Reuters) - Assurant Inc :

* Assurant acquires Green Tree Insurance Agency, Inc.

* Assurant Inc - acquisition will have minimal impact to Assurant's gaap earnings in 2017.

* Assurant Inc - deal for $125 million

* Deal with a potential earnout of up to $25 million

* Assurant Inc - expects deal to generate roughly $25 million of incremental annualized net earned premium and fee income in 2017

* Assurant Inc - Green Tree Insurance Agency will be an indirect, wholly-owned subsidiary of assurant with offices in Rapid city, SD and St. Paul, MN

* Assurant Inc - agreed to acquire Green Tree Insurance Agency, Inc from a wholly-owned subsidiary of Walter Investment Management Corp Source text for Eikon: Further company coverage:

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